National Bank advertises an intrest rate (in decimal form) of 0.12 if your initial investment is 500 and you want to acumalte $900 in intrest, how many years do you need to invest

It will take 15 years for $500 to yield $900 at an interest rate of 0.12

Step-by-step explanation:

Simple Interest equals Principal times Rate times The time in years,

That is SI = P*R*T

SI is $900

P = $500

R = 0.12

T i. e. Time is unknown

T will be equal to SI divided by P*R

i. e., T = SI/PR

T = $900/$500*0.12 = 900/60

T = 15 years.

Therefore, it will take $500 investment to yield $900 interest in 15 years at an interest rate of 0.12